Toray Industries Signs Agreement With South Korea's Hyundai, Focusing On Future Mobility Carbon Fiber Technology

On October 27, Toray Industries announced on its official website that it has signed a contract with Hyundai Motor Group to jointly develop advanced materials and components needed for future mobility, explore technological innovations, and establish new industry standards.

According to the agreement, the two parties will engage in full value chain cooperation in the field of high-performance composite materials, covering all aspects from R&D and production to commercialization, jointly developing advanced materials suitable for future mobility, including high-performance vehicles and special-purpose transportation tools such as lunar rovers and robots.

In terms of division of labor, the Hyundai Motor Group will rely on its Materials Research and Engineering Center to be responsible for the overall design, performance evaluation, and applicability verification of advanced materials and components. Toray Group, leveraging its core advantages in carbon fiber technology, will focus on the development and production of intermediate materials and molded products through its global subsidiary network, which includes Toray Advanced Materials in Korea, Toray Advanced Composites in the Netherlands, and European Advanced Carbon Fiber Composites in Germany.

To support this collaboration, Toray Advanced Materials Korea is actively advancing its capacity expansion. The fourth carbon fiber production line being built in Gyeongbuk, Gumi, will increase its annual production capacity from the current 4,700 tons to 8,000 tons, providing ample capacity assurance for the collaboration project.

It is reported that the cooperation between the two giants began in April 2024, when both parties signed a strategic cooperation agreement announcing that they would jointly develop advanced materials such as carbon fiber reinforced plastics to enhance the performance and safety of electric vehicles. After more than a year of close communication, the cooperation between the two parties has yielded its first substantial result.